Puma Exploration Signs Strategic Land Package Agreement to Extend Its Williams Brook Gold Property

Puma Exploration Signs Strategic Land Package Agreement to Extend Its Williams Brook Gold Property

Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the "Company" or "Puma") is pleased to report that it has signed a definitive agreement to acquire 100% interest in another 341 claims ("the Claims") in nine (9) separate claim blocks, contiguous to its flagship Williams Brook North property. The Claims add another 7,443 ha to the land package for a total of 29,522 ha. The Williams Brook Gold property is the ongoing focus of the Company's 2022 Exploration Program. The new claims are located along strike of the gold trends identified at Williams Brook to date (see Figure 1). While there's been limited exploration carried out on the Claims so far, trenching undertaken in 2021 returned gold results up to 8.67 gt Au . Puma will compile and analyze available data this winter in preparation for a comprehensive surface exploration program next summer.

Over the past 15 months, Puma has consolidated a patchwork of mining claims that had seen little to no modern exploration work. The Company's successful 2021 exploration program, combined with the initial visual observations from the current 10,000 metres drilling program at The O'Neil Gold Trend ("OGT"), were catalysts to secure more ground with similar potential contiguous to the existing landholding.

MORE ABOUT THE CLAIMS
In 2020, a new logging road exposed potassic rhyolite rocks containing quartz veins. Trenching in the summer of 2021 led to a gold discovery. Seven (7) out of 9 samples from an initial trench (Trench 1) returned more than 1g/t Au with notable grades of 5.92 g/t Au , 5.15 g/t Au, 4.05 g/t gold and 3.09 g/t Au . Following this success, 30 metres to the south, a second trench exposed the same mineralization and returned 8.67 g/t Au , 6.18 g/t Au , 2.10 g/t Au , 1.18 g/t Au and 1.0 g/t Au .

This gold discovery appears to coincide with a large-scale mag anomaly. Puma will undertake a detailed compilation of trenching results and geophysical data this winter in preparation for next summer's grassroots exploration program over the entirety of the property. The Claims have never been drilled before. The summer 2022 surface exploration work will enable the Company to identify targets for future drilling.

ACQUISITION TERMS

To acquire a 100% interest in the Claims (341 claims), Puma agrees to issue the Vendor on closing:

a) 250,000 common shares of the Company and a C$40,000 cash payment;
b) 250,000 common shares of the Company and a C$40,000 cash payment on or before the first anniversary of the signing of the agreement;
c) 250,000 common shares of the Company and a C$50,000 cash payment on or before the agreement's second anniversary;
d) 250,000 common shares of the Company and a C$50,000 cash payment on or before the agreement's third anniversary.

Additional performance payments to the Vendor:

1) Cash payment of C$25,000 upon a positive preliminary economic assessment;
2) Cash payment of C$50,000 upon a positive feasibility study;
3) One-time cash payment of C$100,000 upon commercial production.

The Vendor will retain a 2% net smelter return ("NSR") royalty on any commercial production from the property. Fifty percent of the NSR, or 1%, may be purchased by Puma for $1 million. Puma retains the right of first refusal on the remaining 1% NSR royalty retained by the Vendor. The agreement is subject to the approval of the TSX Venture Exchange.

QUALIFIED PERSON
Dominique Gagné, PGeo, a qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release.

COVID-19 PRECAUTIONS

Puma has developed and implemented precautions and procedures compliant with Québec and New Brunswick's health guidelines. Strict protocols are in place to ensure the safety of all staff, thereby reducing the potential of community contact and spreading of the virus.

ABOUT Puma Exploration

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low share-dilution.

Connect with us on Facebook / Twitter / LinkedIn

Visit www.explorationpuma.com for more information or contact:

Marcel Robillard ,
President, (418) 750-8510;
president@explorationpuma.com

Mia Boiridy ,
Head of Investor Relations and Corporate Development, (250) 575-3305; mboiridy@explorationpuma.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d4c8cde-ba00-4a42-9628-b26251de5798


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

PUMA:CA
The Conversation (0)
Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

  • Hole WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m .
  • 2.06 g/t gold over 5.20 m was intercepted at 215 m downhole (WB23-139)- the deepest occurrence of gold to date.
  • Lower-grade gold envelopes of 0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m surround the higher-grade gold shoots.
  • The Moose area shows consistent gold mineralization at surface with hole WB23-136 grading 30.90 m of 1.10 g/t gold .
  • Drill core samples with visible gold ("VG") returned 137.0 g/t gold over 0.60 m (WB23-139), 96.0 g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over 0.79 m (WB23-137).

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results of another seven (7) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project with high grades intercepts and long gold mineralized sections.

Hole WB23-139 intersected two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m (Figure 1) within a 63.05 m intercept grading 2.49 g/t gold from 89.95 to 153.00 m. The same hole intersected another gold intersection of 2.06 g/t gold   over 5.20 m at 215 m downhole depth. With these new gold intersections, the Lynx Gold Zone ("LGZ") has been extended to approximately 150 m vertical depth (Figure 2), further highlighting the potential for significant depth extension.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

  • Strategic gold property located along national road, only 10km from St-Quentin and 25km west of Williams Brook Flagship property.
  • High-grade gold structure, with initial surface sampling up to 362 g/t gold*.
  • Mineralization hosted in similar quartz veins within sedimentary package.
  • Similar depositional gold environment as Williams Brook Gold property.

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce that it has entered into a property agreement to strategically increase its substantial gold landholdings at the Williams Brook Gold Project (Figure 1). The newly optioned TIMM Gold Property, with grab samples* grading up to 267 gt gold and 362 gt gold (Table 1), marks another step towards Puma's development of a major gold camp in Northern New Brunswick.

Figure 1: Puma's assets and landholdings in Northern New Brunswick

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

  • Hole WB23-125 returned 50.85 m of 1.05 g/t gold.
  • Gold mineralization extends over 90 m from surface in a series of stacked high-grade   quartz veins.
  • All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
  • Gold was intercepted at depth in areas never drilled before.
  • Results confirm the continuity of gold mineralization at the Lynx Gold Zone.
  • Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results for the first eleven (11) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. These holes were first reported on August 2, 2023, and are not part of the series that returned more than 100 specks of visible gold ("VG") on initial inspection. Notwithstanding, seven (7) of the 11 holes reported today returned significant gold, with four (4) holes intersecting multiple mineralized high-grade gold quartz veins (Table 1). Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 gt gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 gt gold starting at 42 m depth, including a 4.50 m interval of 6.46 gt gold at 75 m depth.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to outline the ongoing progress of its 2023 exploration program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada. The program has successfully shown that gold mineralization extends to 150 m vertical depth at the Lynx Gold Zone ("LGZ") following Phase 1 drilling ( see August 23, 2023, News Release ). With assay results pending, the Company is now focused on demonstrating the continuity of gold mineralization along the 4 km extension of the Lynx Gold Trend ("LGT") to increase the total gold inventory of the 44,000-ha land package.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the appointment of Mr. Jean-David Moore to the Company's Advisory Board. Mr. Moore has been a consultant and advisor to several mineral exploration and development companies for over fifteen years.

" Jean-David will be a valuable asset to Puma's Advisory Board, bringing his extensive industry experience and knowledge.   He has developed a strong relationship network with his significant holdings in several mineral exploration companies. As a major shareholder of Puma, he will be a trusted ally and champion as we continue to develop our Williams Brook Gold Project. This appointment reflects Puma's continued commitment to building a team focused on creating value for shareholders ", stated Marcel Robillard, President and CEO of Puma.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Canadian Gold Corp. Private Placement Offering for New Hammond Reef South Program to Follow up 2024 Surface Samples That Returned 35.4 g/t Gold

Canadian Gold Corp. Private Placement Offering for New Hammond Reef South Program to Follow up 2024 Surface Samples That Returned 35.4 g/t Gold

Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce plans for a follow-up program on the discovery of the new high-grade zone (announced August 6, 2024), that returned 35.4 gt and 7.1 gt gold from surface samples at the Company's 100%-held Hammond Reef South property, located near Atikokan, Ontario. The Company's properties are adjacent to Agnico Eagle's fully permitted Hammond Reef Project, which contains a mineral resource of more than 5 million ounces of gold and occurs in the same geological environment (Fig. 1).

Hammond Reef South was acquired in 2023 as part of the Company's strategy to acquire prospective mineral rights around Canada's largest mines and development projects. The Company's 2024 programs at Hammond Reef South outlined a mineralization stock work vein system having a minimum strike length of 80 metres with widths of up to 20 metres (Fig. 2). A channel sample across the vein system returned 3.3 g/t gold over 1.05 metres, including 6.42 g/t gold over 0.45 metres. New sampling 80 metres north of the original discovery, and before going under a swamp, returned 11.6 g/t gold from surface sampling (announced September 25, 2024). The proximity of this vein system appears to fall within a potential mineral system over a 6.7 km gold trend that passes through the property (Fig. 3).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Kobo Resources Intersects 21.5 m at 1.14 g/t Au and 20.0 m at 1.41 g/t Au at the Jagger Zone and Files FY 2025 Financial Results

Kobo Resources Intersects 21.5 m at 1.14 g/t Au and 20.0 m at 1.41 g/t Au at the Jagger Zone and Files FY 2025 Financial Results

  • All reported holes intersected gold mineralization, reinforcing continuity and improving structural understanding at the Jagger Zone
  • Results support   the Company's systematic exploration and targeting approach for further resource definition at Kossou

Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to announce additional diamond drill results from the ongoing exploration program at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from the Jagger Zone continue to confirm broad zones of mineralisation and extend the footprint of gold-bearing structures along strike and at depth.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Auric Mining (ASX:AWJ)

Munda Gold Mine Mining Progresses: First Blast

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to provide an update on mining of the Starter Pit at the Munda Gold Mine, 5km from Widgiemooltha, Western Australia.

Keep reading...Show less
Gold letters spelling "Fed" in front of a pile of gold dollar coins and US flag.

Gold Price, Equities Flat as Fed Leaves Rates Unchanged​

The US Federal Reserve held its fourth meeting of 2025 from Tuesday (June 17) to Wednesday (June 18) against a backdrop of trade tensions, spurred on by the Trump administration's tariffs.

The central bank met analysts’ expectations by holding its benchmark rate in the 4.25 to 4.5 percent range.

Chair Jerome Powell stated that the Fed's dual mandate of maximum employment and stable prices remains in balance, noting that the US economy is solid. He added that the labor market is not a source of inflationary pressures.

Keep reading...Show less
Harvest Gold (TSXV:HVG)

Harvest Gold

Keep reading...Show less

Latest Press Releases

Related News

×